Stock On Watch: A Reversal for Teledyne Technologies Incorporated Is Not Near. The Stock Reaches All-Time High Today

November 29, 2016November 29, 2016Darrin Black

The stock of Teledyne Technologies Incorporated (NYSE:TDY) reached all time high today, Nov, 29 and still has $135.48 target or 9.00% above today’s $124.29 share price. This indicates more upside for the $4.34 billion company. This technical setup was reported by Barchart.com. If the $135.48 PT is reached, the company will be worth $390.60M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 160,381 shares traded hands or 8.91% up from the average. Teledyne Technologies Incorporated (NYSE:TDY) has risen 31.88% since April 26, 2016 and is uptrending. It has outperformed by 26.62% the S&P500.

Analysts await Teledyne Technologies Incorporated (NYSE:TDY) to report earnings on February, 2. They expect $1.37 EPS, down 2.84% or $0.04 from last year’s $1.41 per share. TDY’s profit will be $47.84 million for 22.68 P/E if the $1.37 EPS becomes a reality. After $1.52 actual EPS reported by Teledyne Technologies Incorporated for the previous quarter, Wall Street now forecasts -9.87% negative EPS growth.

Teledyne Technologies Incorporated (NYSE:TDY) Ratings Coverage

Out of 2 analysts covering Teledyne Tech (NYSE:TDY), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Teledyne Tech has been the topic of 2 analyst reports since October 6, 2015 according to StockzIntelligence Inc. CL King downgraded the shares of TDY in a report on Wednesday, July 6 to “Neutral” rating. Needham downgraded the stock to “Hold” rating in Tuesday, October 6 report.

According to Zacks Investment Research, “Teledyne Technologies Inc. is a leading provider of sophisticated electronic and communication products, systems engineering solutions and information technology services, and aerospace engines and components. The company customers include aerospace prime contractors, general aviation companies, government agencies and major communications and other commercial companies.”

Insitutional Activity: The institutional sentiment increased to 1.34 in Q2 2016. Its up 0.11, from 1.23 in 2016Q1. The ratio is positive, as 14 funds sold all Teledyne Technologies Incorporated shares owned while 59 reduced positions. 17 funds bought stakes while 73 increased positions. They now own 30.12 million shares or 5.16% less from 31.76 million shares in 2016Q1.
Moreover, Kcg Inc has 0.01% invested in Teledyne Technologies Incorporated (NYSE:TDY) for 2,965 shares. Blackrock Institutional Company Na holds 0.02% of its portfolio in Teledyne Technologies Incorporated (NYSE:TDY) for 1.04 million shares. The New York-based Ny State Teachers Retirement has invested 0.02% in Teledyne Technologies Incorporated (NYSE:TDY). Parkside Fincl State Bank last reported 0% of its portfolio in the stock. Liberty Mutual Group Asset Inc holds 14,963 shares or 0.05% of its portfolio. Invesco Ltd holds 0% or 48,480 shares in its portfolio. Gemmer Asset Ltd Liability Com accumulated 0% or 80 shares. Checchi Capital Advisers Ltd has invested 0% of its portfolio in Teledyne Technologies Incorporated (NYSE:TDY). The New York-based Springbok Mgmt Ltd Co has invested 0% in Teledyne Technologies Incorporated (NYSE:TDY). Salient Advsrs Ltd Liability holds 0% or 2,136 shares in its portfolio. Ghp Invest Advisors accumulated 0.26% or 12,155 shares. Proshare Advsrs Ltd Company has 0.01% invested in the company for 7,290 shares. Cim Mangement Inc last reported 0.12% of its portfolio in the stock. Scout Invs Inc owns 37,725 shares or 0.1% of their US portfolio. Savings Bank Of America De accumulated 0% or 156,731 shares.

Insider Transactions: Since August 8, 2016, the stock had 0 insider buys, and 20 sales for $20.37 million net activity. $709,404 worth of shares were sold by MAIN SUE on Monday, August 15. AUSTIN ROXANNE S sold $422,197 worth of stock. Cibik Melanie Susan sold $759,308 worth of stock. The insider VanWees Jason sold 3,996 shares worth $461,513. Shares for $474,918 were sold by Belak Cynthia Y. On Thursday, November 10 the insider MEHRABIAN ROBERT sold $4.05 million. The insider PICHELLI ALDO sold $155,290.

TDY Company Profile

Teledyne Technologies Incorporated, incorporated on August 23, 1999, provides enabling technologies for industrial markets. The Firm caters to a range of markets, which include deepwater gas and oil exploration and production, oceanographic research, air and water quality environmental monitoring, electronics design and development, factory automation and medical imaging. The Company’s products include monitoring and control instrumentation for marine and environmental applications, harsh environment interconnects, electronic test and measurement equipment, digital imaging sensors and cameras, aircraft information management systems, and defense electronic and satellite communication subsystems. It also supplies engineered systems for defense, space, environmental and energy applications. The Firm operates through four divisions: Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems.